Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) Price Target at $12.75

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) have been assigned an average rating of "Hold" from the ten analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $12.75.

Several research analysts have commented on PK shares. Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price for the company. in a research report on Friday, May 16th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Morgan Stanley reduced their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Truist Financial cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. Finally, Bank of America cut shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a research note on Wednesday, April 30th.

Park Hotels & Resorts Stock Performance

PK traded up $0.25 during trading on Friday, reaching $10.63. 3,283,317 shares of the company were exchanged, compared to its average volume of 3,529,470. The stock has a market cap of $2.12 billion, a P/E ratio of 10.52, a PEG ratio of 1.51 and a beta of 1.74. The firm has a 50 day moving average of $10.08 and a 200 day moving average of $12.25. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.41%. Park Hotels & Resorts's dividend payout ratio (DPR) is 169.49%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Park Hotels & Resorts by 11,039.1% in the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after purchasing an additional 2,539 shares in the last quarter. Quarry LP acquired a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. bought a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $53,000. Finally, GAMMA Investing LLC boosted its holdings in Park Hotels & Resorts by 401.2% during the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock worth $56,000 after buying an additional 4,229 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.